VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2012) - Christian de Groot ("Mr. de Groot") announces that he has acquired an aggregate of 111,667 common shares (the "Shares") of Bluefire Mining Corp. ("Bluefire") pursuant to the closing of Bluefire's initial public offering ("IPO"). The Shares were acquired at a purchase price of C$0.15 representing an aggregate purchase price of C$16,750.05
Following the completion of the IPO and as a result of a previous transaction, Mr. de Groot controls 1,111,667 common shares of Bluefire representing 10.2% of the issued and outstanding common shares of Bluefire. Assuming the exercise of warrants, Mr. de Groot will have control over 2,111,667 common shares of Bluefire representing 17.7% of the issued and outstanding common shares of Bluefire.
The common shares of Bluefire were acquired by Mr. de Groot for investment purposes. Depending on market conditions and other factors that Mr. de Groot may deem material to his investment decisions, additional shares may be purchased in the open market or in private transactions. Depending on these same factors, shares currently owned (or hereafter acquired) by Mr. de Groot may be sold in the open market or in private transactions.
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